PSX Falls 404 Points as US-Iran Tensions Weigh on Market
KSE-100 Index falls as geopolitical uncertainty weighs on Pakistan Stock Exchange sentiment.
The Pakistan Stock Exchange (PSX) turned lower on Monday as investors remained cautious over developments between the United States and Iran.
The KSE-100 Index fell 404.24 points, or 0.24%, to 170,360.98 by 12:38pm.
The market had opened on a positive note. The index reached 171,038.58 by 9:33am, gaining 273.36 points, or 0.16%.
However, profit-taking erased the early gains. The index then moved lower during a volatile session.
Geopolitical Tensions Pressure Sentiment
Investor sentiment weakened as uncertainty continued over a possible US-Iran diplomatic breakthrough.
Brent crude prices also rebounded by more than 3% in Asian trading.
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The rise followed US President Donald Trump’s rejection of an Iranian proposal linked to ending the conflict and reopening the Strait of Hormuz.
The developments kept concerns over regional tensions elevated. They also added pressure to risk-sensitive markets.
KSE-100 Trades Volatile
The KSE-100 reached an intraday high of 171,126.52 before reversing direction.
It later fell to 170,120.49, showing continued volatility during the session.
Trading activity remained active. About 53.14 million shares changed hands.
The total traded value reached Rs4.02 billion by the reported time.
Market participants continued to monitor developments in the Middle East. Further diplomatic progress could influence investor sentiment and oil prices.
